Share Name Share Symbol Market Type Share ISIN Share Description
Global Graphics Se LSE:0RGN London Ordinary Share GB00BYN5BY03 GLOBAL GRAPHICS ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 € +0.00% 3.59 € 0.00 € 0.00 € - - - 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0

Global Graphics Plc: Publication Of 2018 Annual Report And Financial Statements

27/03/2019 5:00pm

UK Regulatory (RNS & others)

   Cambridge (UK), 27 March 2019 (18.00 CET): Global Graphics PLC 
(Euronext: GLOG) announces that it has published its annual report and 
financial statements for the financial year ended 31 December 2018. 
   The full document is available to download from the investors section of 
the Company's web site at: 
   Should you wish to receive printed copies please send an e-mail to or make your request in writing, 
for the attention of the Company's Chief Financial Officer, to 2030 
Cambourne Business Park, Cambourne, Cambridge, CB23 6DW, UK. 
   Gary Fry, Global Graphics CEO comments, "We have put in a solid 
performance in 2018 although it should be noted that there was a 
significant amount of non-recurring revenue that we do not expect to be 
repeated. This leads us to expect that revenue for the 2019 financial 
year will be broadly in line with 2018. However, due to investing in 
additional staff during 2018 and 2019, we expect comparable 
profitability will be reduced." 
   Financial highlights 
In thousands of euros                                2018     2017      Change 
--------------------------------------------------  ------   ------   -------- 
Revenue                                             23,922   20,536   3,386 
Operating profit/(loss)                              2,808     (288)  3,096 
Profit/(loss) before tax                             2,873     (163)  3,036 
Tax expense                                           (504)    (103)   (401) 
Profit/(loss) for the year attributable to equity 
 holders                                             2,369     (266)  2,635 
EBITDA                                               5,720    3,095   2,625 
Adjusted operating profit                            4,759    2,140   2,619 
Adjusted net profit                                  3,981    1,773   2,208 
Basic earnings/(loss) per share                       0.20    (0.02)   0.22 
Adjusted earnings per share                           0.34     0.15    0.19 
Net cash                                             5,650    5,076     574 
   The consolidated pre-tax result was a profit of EUR2.87 million in 2018 
compared with a pre-tax loss of EUR0.16 million in 2017.  The increase 
in profitability of EUR3.03 million is due to: 
   -- an increase in revenue of EUR3.38 million (EUR3.73 million of 2018 
      revenue is expected to be non-recurring, see below for more information); 
   -- a decrease in cost of sales of EUR0.13 million; 
   -- an increase in other income of EUR0.02 million; 
   -- an increase in selling, general and administrative expenses of EUR0.59 
   -- an increase in research and development expenses of EUR0.36 million; 
   -- a decrease in other operating expenses of EUR0.51 million; 
   -- an increase in finance income of EUR0.02 million; and 
   -- a decrease in foreign exchange gains of EUR0.08 million 
   Revenue for the Software segment totalled EUR9.98 million for the year 
(2017: EUR9.08 million).  Revenue from existing customers declined by 
EUR0.93 million year on year, offset by revenue from new customers and 
licensing deals of EUR1.83 million, of which EUR1.48 million is expected 
to be non-recurring. 
   Revenue for the Printhead Solutions segment was EUR9.20 million for the 
year (2017: EUR7.68 million).  The number of customers for which revenue 
was recognised during the year increased by 24.5% over the previous 
year.  Sales in Europe remained flat, but there was 64.3% (EUR0.70 
million) growth in North America and 13.7% (EUR0.72 million) growth in 
Asia.  The growth in Asia included EUR0.67 million which is expected to 
be non-recurring. 
   Revenue for the Fonts segment was EUR4.75 million for the year (2017: 
EUR3.78 million).  During the year a new contract was signed in the 
Fonts segment which generated EUR1.58 million in revenue.  The revenue 
from that contract is non-recurring and is not expected to be repeated. 
   Gross profit for the period has improved to 79.3% of revenue (2017: 
75.2%).  Margins were improved across all segments of the Group. 
   Included in selling, general and administrative expenses is amortisation 
of EUR1.16 million (2017: EUR1.52 million) related to intangible assets 
recognised as a result of acquisitions and EUR0.31 million (2017: 
EUR0.06 million) related to share-based payment expenses. 
   Included in research and development expenses is the capitalisation and 
amortisation of internally generated intangible assets.  During the 
period there was a net expense of EUR0.36 million (2017: EUR0.18 
million) related to these assets.  The net expense was comprised of 
EUR1.41 million (2017: EUR1.46 million) in amortisation charge offset by 
EUR1.05 million (2017: EUR1.28 million) in capitalisation of development 
   The exchange rate gains are primarily due to the revaluation of currency 
balances held at the balance sheet date and the change in exchange rates 
during the year. 
   The Group presents EBITDA (earnings before interest, tax, depreciation 
and amortisation) and adjusted profit when reporting its financial 
results to provide investors with an additional tool to evaluate the 
Group's results in a manner that focuses on what the Group believes to 
be its underlying business operations.  The Group's management believes 
that the inclusion of adjusted financial results provides consistency 
and comparability with past reports. 
   Additional commentary and analysis of the Group's consolidated results 
for the year ending 31 December 2018 can be found in the annual report 
and financial statements. 
   Annual General Meeting 
   The Company expects to hold its annual general meeting on Wednesday 15 
May 2019 in Brussels.  The official notice of the meeting will be issued 
in accordance with applicable legal and regulatory requirements closer 
to the time. 
   About Global Graphics 
   Through its operating subsidiaries, Global Graphics PLC 
(Euronext Brussels: GLOG) is a leading developer of platforms for 
digital inkjet printing and type design and development. Customers for 
digital inkjet technology include press manufacturers such as HP, Canon, 
Durst, Roland, Hymmen and Mark Andy.  Those for font design include 
numerous international brands, from manufacturers such as Mercedes Benz 
and Siemens, to digital media and epublishing companies.  Global 
Graphics PLC is headquartered in Cambridge UK.  Its subsidiary companies 
are printing software developers Global Graphics Software 
; the type foundry, URW Type Foundry 
, and the industrial printhead driver solutions specialists, Meteor 
Jill Taylor                                                                     Graeme Huttley 
Corporate Communications Director                                               Chief Financial Officer 
Tel: +44 (0)1223 926489                                                         Tel: +44 (0)1223 926472 
Email:  Email:                                         
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March 27, 2019 13:00 ET (17:00 GMT)

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